"Geologic exploration that allows to accumulate 10-13 billion tons of extractable commercial oil reserves, including 1.3-1.5 billion tons of cost-effective reserves, and 10-18 trillion cubic meters of gas has to be intensified," Kaminsky said at a meeting of the Nature Ministry's board devoted to measures to study and raise the efficiency of developing mineral resources at Russia's offshore fields.
"Preparing deposits for auctions will cost 33.2 billion rubles ($1 equals 27.81 rubles) overall," added Kaminsky.
"Currency receipts from oil output [before 2020] will reach $98-$128 billion, while gas output receipts will be $107 billion," said Kaminsky.
The budget's one-time expected receipts from delegating the right to use subsurface mineral resources have been estimated at $1.8 to $4.9 billion. The figure was calculated on the basis of data on auctions for mainland and offshore fields in Russia and abroad, according to Kaminsky.
